The Dangote Petroleum Refinery has increased the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦1,175 per litre, marking the third price adjustment within one week.
The latest increase represents about ₦180 above the previous ₦995 per litre announced earlier in the week, reflecting an approximate 18 percent rise within a few days.
The price adjustment follows a series of earlier increases by the refinery. Prior to the current change, the ex-depot price had moved from ₦774 per litre to ₦874, and later to ₦995 per litre, as the company reviewed its pricing in response to developments in the global crude oil market and production costs.
Industry data indicated that the revised gantry price has already been reflected in downstream trading platforms used by petroleum marketers.
The change is expected to influence retail petrol prices at filling stations across Nigeria as marketers adjust pump prices to reflect supply costs.
Officials of the refinery have stated in previous communications that petrol pricing is influenced by factors such as international crude oil prices, foreign exchange rates, logistics costs, and other operational considerations within the deregulated downstream petroleum sector.
The refinery also indicated that the domestic petroleum market now operates under a fully deregulated pricing framework, where fuel prices are determined largely by market conditions rather than government-controlled pricing.
Market participants in Nigeria’s downstream oil sector continue to monitor the refinery’s pricing decisions, as changes at the facility often affect petrol supply and pump prices nationwide
